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Dec 26, 2012
12/12
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KRCB
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wealth yearl people will see an additional tax-- an additional medicare tax. their payroll tax will if up by .9%, and there label tax for the first time on non-wage income in medicare for people who earne. over $200,000 for an individualo $250,000 for a couple. there will be a tax on investment income for the first time. there will also be a limit onpe what you can put aside in the so-called flexible spendings account. these are places you can putan pretax money. basically it hundreds you pay for things that your insurance doesn't cover, things liketi orthodontia, perhaps, or eye glass or your deductibles and co-pays on your insurance plans.,0 usually there could be no limitn or a large limit of $5,000, $6, 000, and that's being cut toar $4500. those are a couple of thingshi people will experience next20 year. >> suarez: which means you'll have plenty of work to do in 2013. >> i will have plenty of work to do in 2013. >> suarez: npr's julie rovner, thanks a lot. it >> ifill: next, protecting civilians in a conflict zone with eyes and a notepad.n the island of
wealth yearl people will see an additional tax-- an additional medicare tax. their payroll tax will if up by .9%, and there label tax for the first time on non-wage income in medicare for people who earne. over $200,000 for an individualo $250,000 for a couple. there will be a tax on investment income for the first time. there will also be a limit onpe what you can put aside in the so-called flexible spendings account. these are places you can putan pretax money. basically it hundreds you pay...
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Dec 28, 2012
12/12
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KRCB
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eye 163
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all the tax votes you want, they're ll tax cut votes. and conservative republicans believe their bargaining position improves. you reported on the debt limit but that becomes more of a concern as february approaches. they think they have leverage there to come bean the debt limit with the debate over more spending cut and more leverage on what they want from taxes. so there are strong voices on both sides so they say go over. >> warner: we better fasten our seat belts. ed to >> brown: still to come on the "newshour": a ban on adoptions from russia; the impact of austerity in greece; the tea party and the fiscal cliff and the administration's environmental record. but first, the other news of the day. here's kwame holman. >> holman: wall street was down much of the day, but trimmed its losses after news that the house will convene sunday to focus on the fiscal cliff. in the end, the dow jones industrial average shed 18 points to close at 13,096. the nasdaq fell four points to close under 2,986. also today, the labor department reported th
all the tax votes you want, they're ll tax cut votes. and conservative republicans believe their bargaining position improves. you reported on the debt limit but that becomes more of a concern as february approaches. they think they have leverage there to come bean the debt limit with the debate over more spending cut and more leverage on what they want from taxes. so there are strong voices on both sides so they say go over. >> warner: we better fasten our seat belts. ed to >>...
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161
Dec 29, 2012
12/12
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KRCB
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eye 161
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it included keeping the bush era tax break force the middle class but raising tax rates on incomes over 250,000 dollars a year. president also wants to extend unemployment benefits for some 2 million americans who will lose them in the new year. and a proposal would delay any spending cuts. the president asked for an up or down vote on his plan unless there is a counter proposal that will pass both the house and senate. a little more than an hour after the meeting began, several participants were seen leaving. >> and back at the capital the senate's democratic majority leader harry reid and republican minority leader mitch mcconnell offered their takes on the meeting. >> we had a good meeting down at the white house. we are engaged in discussions, the majority leader, myself and the white house, in t hopes that we can come forward as early as sunday and have a recommendation that i can make to my conference and the majority leader can make to his conference. and so we'll be working hard to try to see if we can get there in the next 24 hours. and so i'm hopeful and optimistic. >> whateve
it included keeping the bush era tax break force the middle class but raising tax rates on incomes over 250,000 dollars a year. president also wants to extend unemployment benefits for some 2 million americans who will lose them in the new year. and a proposal would delay any spending cuts. the president asked for an up or down vote on his plan unless there is a counter proposal that will pass both the house and senate. a little more than an hour after the meeting began, several participants...
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Dec 25, 2012
12/12
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KRCB
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eye 138
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parker says oakland has already heavily invested in system to tax and regulate dispensaries. >> we laugh a great deal of time and energy and money setting up this system that is consistent with california law. and is a tragic way of the government's resources. >> but others say potash shops never should have been able to open 2349 first place. >> federal law, law of the land or is it law, that's the bottom line. >> carla lowe is citizens against legalization of marijuana. a lobbying group based in sacramento. pot is unsafe and ineffective. not a -- an 'digtive, dangerous drug. >> not a medicine. always been a joke, a cruel hoax, always has been, always will be. f.d.a. will never approved it for any product to be deemed a medicine. >> with the recent legalization of medical marijuana in washington and colorado national leaders are re-examining pot policies. the justice department soon expected to issue a response which now allow adults 21 and old tore possess up to one ounce legally. on capitol hill, senate judiciary chairman patrick leahy called for congressional hearings on the issue an
parker says oakland has already heavily invested in system to tax and regulate dispensaries. >> we laugh a great deal of time and energy and money setting up this system that is consistent with california law. and is a tragic way of the government's resources. >> but others say potash shops never should have been able to open 2349 first place. >> federal law, law of the land or is it law, that's the bottom line. >> carla lowe is citizens against legalization of...
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Dec 29, 2012
12/12
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KQED
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eye 151
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pay a lower tax. that brings another $1 billion into the state budget. and for -- >> some of that's earmarked, though. >> for the first five years, half of it is earmarked for green jobs, environmentsal things, and it looks like the legislature wants to put that into energy retrofits for schools. but going forward, it's not earmarked money. >> so, the supermajority and the potential budget surpluses on the horizon a year or two out, does this give jerry brown like a new life politically? does he -- you know, what does he do with it. >> a new life, but not a blank check, maybe, yeah. >> had he lost, he might not have run again for governor, and that would have been a huge rejection of everything he had argued for, that you could bring sanity to the process, people are reasonable, they'll find a middle ground. all that would have been in ruins. and i think now -- and obviously, it depends on his health, now that we've learned recently about his prostate cancer, which thankfully, they caught early. you c
pay a lower tax. that brings another $1 billion into the state budget. and for -- >> some of that's earmarked, though. >> for the first five years, half of it is earmarked for green jobs, environmentsal things, and it looks like the legislature wants to put that into energy retrofits for schools. but going forward, it's not earmarked money. >> so, the supermajority and the potential budget surpluses on the horizon a year or two out, does this give jerry brown like a new life...
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Dec 28, 2012
12/12
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CSPAN2
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eye 109
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every single senator wants to prevent tax cheating, tax cheaters from receiving any funding in this bill. i'm for all of these prohibitions on tax cheats. i carry a similar provision in my usual and customary commerce-justice bill. the senator from oklahoma also is very sensitive about modifying it. his bill covers tax cheats and also dead people can't get federal funds. he modified it to cover funeral expenses. but we've also been told that this, by the finance committee that this amendment is not a blue-slip issue. i support the gentleman's amendment. and if it's agreeable with the gentleman from oklahoma on this side, we would like to take his amendment tonight. now, on the fisheries part, we don't take the fisheries part. and i oppose the division 2, the fisheries amendment, because the -- i understand the gentleman's intention, but his point is that he tries to say that fishery disaster funding should be for communities affected primarily by stafford act requirements. the stafford act covers fema certified disasters. so in order to get help from fema, which is governed by the staffo
every single senator wants to prevent tax cheating, tax cheaters from receiving any funding in this bill. i'm for all of these prohibitions on tax cheats. i carry a similar provision in my usual and customary commerce-justice bill. the senator from oklahoma also is very sensitive about modifying it. his bill covers tax cheats and also dead people can't get federal funds. he modified it to cover funeral expenses. but we've also been told that this, by the finance committee that this amendment is...
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Dec 28, 2012
12/12
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WMAR
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eye 97
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you, me and come tuesday, all of our taxes will go up and here's how it could affect you. if you are living paycheck to paycheck with no room to cut expenses you could be in real trouble if this agreement is not reached. a failure to renew the bush era tax cuts could mean 2 to 4,000 dollars per year in increases for most americans. according to the towson university it breaks down like this. if you make 25,000 dollars a year, your taxes are going up about 42 dollars a month if you make 45k, 75 dollars a month. if you make 65,000, your taxes are going to go up 108 a month and if you make 85,000 a year, you're going to go up 143 dollars a month. that's you and me. think about the super rich. someone like lebron james who make 53 million a year his taxes are going up 2 1/2 million dollars a year alone. as for americans, who are they blaming? a study by roisters shows that a-- reuters shows among the groups blamed 27% say this falls in the laps of republicans 16% say president obama's fault and 6% say it's the responsibility of congressional democrats. the largest number this
you, me and come tuesday, all of our taxes will go up and here's how it could affect you. if you are living paycheck to paycheck with no room to cut expenses you could be in real trouble if this agreement is not reached. a failure to renew the bush era tax cuts could mean 2 to 4,000 dollars per year in increases for most americans. according to the towson university it breaks down like this. if you make 25,000 dollars a year, your taxes are going up about 42 dollars a month if you make 45k, 75...
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Jan 1, 2013
01/13
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CSPAN2
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eye 146
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earned-income tax credit. earned-income tax credit is a measure passed during the reagan administration which said that we would give working families a tax benefit for working. earned-income tax credit. and that is probably, as president reagan described it, the best way to eliminate reduced poverty in our nation. so the earned-income tax credit has been extended for five years. the child tax credit, which does exactly what it says, says to families with children, we will give you a tax credit to help you raise those children, that too was renewed for another five years. and a provision in the law which was added by senator schumer of new york years ago which helps working families to pay for college education, that too was included in this measure. so from a working family perspective, there are many good and important elements that were included in this measure. we also considered a lot of other tax measures, some of which i liked and some i didn't like. one of them in particular, the estate tax, is a tax t
earned-income tax credit. earned-income tax credit is a measure passed during the reagan administration which said that we would give working families a tax benefit for working. earned-income tax credit. and that is probably, as president reagan described it, the best way to eliminate reduced poverty in our nation. so the earned-income tax credit has been extended for five years. the child tax credit, which does exactly what it says, says to families with children, we will give you a tax credit...
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Dec 28, 2012
12/12
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CSPAN
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eye 105
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-- on taxes? we are three days away from getting taxes raised. guest: we have seen a couple stories in recent days about the tea party influence in these talks or lack of influencing the talks. this is one of those tricky issues. a conversation is all about the deficit. the problem is how aggressive will they go after the deficit and what mix of spending cuts and tax increases will be part of the negotiations? it is a wait-and-see approach. whatever decision is made will annoy some interest groups, whether it aid charities or the housing industry or teachers, but the party. we will see some swift reaction. at this point, it's hard to know what to protest, because the deal is in flux and has fallen apart so many times. host: let another scenario on the table. a recent agreement on the fiscal cliff, another big issue will be raising the debt limit their there's also the issue of immigration,, the president wants to bring up in his state of the union. and the issue of maybe an assault weapon ban that could, and congress. some big ticket items. how i
-- on taxes? we are three days away from getting taxes raised. guest: we have seen a couple stories in recent days about the tea party influence in these talks or lack of influencing the talks. this is one of those tricky issues. a conversation is all about the deficit. the problem is how aggressive will they go after the deficit and what mix of spending cuts and tax increases will be part of the negotiations? it is a wait-and-see approach. whatever decision is made will annoy some interest...
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Jan 1, 2013
01/13
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WUSA
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eye 83
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payroll tax. it also kicked the can down the road on automatic spending cuts for the defense department and domestic programs. they've been postponed for two months. as lee cowen reports, that uncertainty has many business owners worried. >> reporter: jo ann vinute is running the numbers. her payroll is due this week. she now has a hint on what taxes to withhold from her dozen employees. that's only half her work. unresolved spending cuts are the other. >> it's very uncertain and very unnerving and very -- causes a lot of anxiety and a lot of lack of sleep. >> reporter: she's the president of golden state magnetic. a $2 million a year los angeles company that inspects, cleans and paints high-tech aircraft and aerospace parts. everything from fighter jets to mars rovers. any cuts in defense spending could mean cuts in her business, too. and the waiting has her on a fiscal cliff of her own. what does it do if there's another, you know, month, two months, three months of this? >> it could potentially
payroll tax. it also kicked the can down the road on automatic spending cuts for the defense department and domestic programs. they've been postponed for two months. as lee cowen reports, that uncertainty has many business owners worried. >> reporter: jo ann vinute is running the numbers. her payroll is due this week. she now has a hint on what taxes to withhold from her dozen employees. that's only half her work. unresolved spending cuts are the other. >> it's very uncertain and...
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93
Dec 31, 2012
12/12
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CSPAN2
tv
eye 93
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-- tax rates on people that make over $400,000. i don't think that's a good idea because i think it hurts job creation. the better way to get revenue is to eliminate deductions and exemptions for businesses and wealthy individuals and take that money back into the treasury, lower tax rates to create jobs and pay down debt. that's what bowles-simpson did. not juan bipartisan group who has tried to solve our debt problem and our spending problem and our revenue problem suggested raising tax rates. bools, a -- bowles-simpson, a bipartisan group, actually lowered tax rates and did it by eliminating deductions and exemptions and they put a lot of money on the debt, they had a 25% corporate rate and the top personal rate was 30%. they took this $1.2 trillion we give out every year in exemptions and deductions to the favored few, they brought it back into the treasury, they paid down debt and they lowered tax rates to help create jobs. this president's approach is the opposite of simpson-bowles and the gang of six. you had six senators, t
-- tax rates on people that make over $400,000. i don't think that's a good idea because i think it hurts job creation. the better way to get revenue is to eliminate deductions and exemptions for businesses and wealthy individuals and take that money back into the treasury, lower tax rates to create jobs and pay down debt. that's what bowles-simpson did. not juan bipartisan group who has tried to solve our debt problem and our spending problem and our revenue problem suggested raising tax...
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Jan 1, 2013
01/13
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CSPAN2
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eye 150
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is the last effort that we had to tax the rich and it's backfired to where it now taxes everybody, or almost everybody. and so it desperately needed -- needed a fix. now we're talking about taxing the rich again. i hope that we can come up with some collective ways that will be certain that the people are rich and that it will last over time instead of just for a few short years. in my area of the world, the biggest thing in that bill was the estate taxes. people in own land in wyoming that they bought maybe at $40 an acre now have land that's worth $2,000 an acre or more, and they haven't figured out how to pay the taxes on these few acres that they were able to scrape together over a period of time if the amount of exemption went down to a million dollars. and that's where we were headed. and at a million dollars, they'd have to sell off part of their ranch, part of their farm in order to be able to pay the taxes when somebody died. all the time that land is making a profit, people are paying the taxes on it. then when they die, they have to pay taxes on something that they would li
is the last effort that we had to tax the rich and it's backfired to where it now taxes everybody, or almost everybody. and so it desperately needed -- needed a fix. now we're talking about taxing the rich again. i hope that we can come up with some collective ways that will be certain that the people are rich and that it will last over time instead of just for a few short years. in my area of the world, the biggest thing in that bill was the estate taxes. people in own land in wyoming that...
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235
Jan 1, 2013
01/13
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KPIX
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eye 235
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one step can be quite taxing. >> sales taxes here tomorrow 9.5%. sales tax right here tomorrow, 9%. >> reporter: so we're live here at safeway at the del norte bart station. it's mobbed. i'm not sure people are trying to save an extra penny every four dollars. it's new year's eve. but they are getting cheaper goods today and this tax will continue for the next four years. live in el cerrito, mike sugerman, cbs 5. >> thank you. >>> some people will have more money to spend come new year's. san francisco's minimum wage will be increased to $10.55 an hour. and that makes it the highest in the u.s. >>> a not guilty plea from a woman accused of killing a pedestrian at san francisco overlook. 23-year-old gina eunice appeared in court today on charges of vehicular manslaughter, dui and hit-and- run. police say her blood alcohol level was nearly three times the legal limit. but her attorney insists her million-dollar bail is unfair. >> i think it would be really so much better for this family which is not to denigrate what the yao family is going through b
one step can be quite taxing. >> sales taxes here tomorrow 9.5%. sales tax right here tomorrow, 9%. >> reporter: so we're live here at safeway at the del norte bart station. it's mobbed. i'm not sure people are trying to save an extra penny every four dollars. it's new year's eve. but they are getting cheaper goods today and this tax will continue for the next four years. live in el cerrito, mike sugerman, cbs 5. >> thank you. >>> some people will have more money to...
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Dec 30, 2012
12/12
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CSPAN
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eye 154
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, it was a payroll or corporate tax -- >> yeah. >> and imposed the carbon tax. now, you think that's not high enough, but it didn't -- for example -- >> well, i think the problem with that is -- and, grover norquist, by the way, he did decide -- well, you know, the thing -- i think what convinces conservatives is the fact that once they are smart enough -- and those who are smart enough to realize we're not making this stuff up, and there are most -- and i think a lot of them are smart enough to realize that, then, they start to think, well, gee, if we let -- if we continue to deny this, we'll reach a point where things happen like super sandys. and then, the government is going to -- that's pearl harbor and the government will take over like the government took over detroit and said, you can't make cars anymore. you're gonna make airplanes and you're not gonna make money. they don't want that to happen, so -- >> they're gonna do something about it before -- intervention now -- >> yeah. >> is better than more intervention later, more government -- >> right. >> i
, it was a payroll or corporate tax -- >> yeah. >> and imposed the carbon tax. now, you think that's not high enough, but it didn't -- for example -- >> well, i think the problem with that is -- and, grover norquist, by the way, he did decide -- well, you know, the thing -- i think what convinces conservatives is the fact that once they are smart enough -- and those who are smart enough to realize we're not making this stuff up, and there are most -- and i think a lot of them...
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156
Dec 28, 2012
12/12
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MSNBCW
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eye 156
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people are not propose iing mak the taxes like them. john boehner could not even pass the tax proposal he passed over there. he said no, can't do that. didn't he bring it up for a vote? >> tonight, speaker boehner's office put out this statement. >> joining me now are our guests. clearly the positioning game continues. harry reid saying we did our job months ago. do you think we til would be@posturing stage at the end of that white house meeting tomorrow? >> in your introduction you made the fundamental point here which is that this agreement before the end of the year, simply cannot go forward unless john by nor is willing to let it do so with majority democrats in the house. if we go over the curve as you put it, they can vote for a large tax decrease becaused off of the new rates that would be reset. they can say we votes to cut taxes for 98% of households. but it is the only scenario that i cap see out there in the near term. >> the building that read has passed. let's lis ep to what mitch mcconnell said about that? >> the senate bi
people are not propose iing mak the taxes like them. john boehner could not even pass the tax proposal he passed over there. he said no, can't do that. didn't he bring it up for a vote? >> tonight, speaker boehner's office put out this statement. >> joining me now are our guests. clearly the positioning game continues. harry reid saying we did our job months ago. do you think we til would be@posturing stage at the end of that white house meeting tomorrow? >> in your...
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>> i don't support tax increases. i campaigned saying i don't support tax increases. i don't want to see added burdens on people who create jobs. i think that's the wrong way to go about this. as you said in my introduction i did defeat bob kerrey by a very wide margin. i did that because nebraskaians elected me knowing i don't support tax increases. >> woodruff: i asked you because in this deal that's coming out of of or came out of the senate that is house is now cover considering 99% of americans will keep their tax cuts. less than 1%, people earning over $450,000 a year, you're saying that is still unacceptable? >> of course we have to provide those tax cuts to the 99%. but we're playing politics by doing it. we're saying okay we're going to provide tax cuts for these people but the rest they have to pay more. we don't need to create more division in this country. i mean just look at washington. i'm on the outside right now until thursday. look at washington. it is so polarized. and talk like that just makes it worse. >> woodruff: the argument that there should be
>> i don't support tax increases. i campaigned saying i don't support tax increases. i don't want to see added burdens on people who create jobs. i think that's the wrong way to go about this. as you said in my introduction i did defeat bob kerrey by a very wide margin. i did that because nebraskaians elected me knowing i don't support tax increases. >> woodruff: i asked you because in this deal that's coming out of of or came out of the senate that is house is now cover considering...
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129
Dec 28, 2012
12/12
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WJZ
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eye 129
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it included keeping the bush era tax break force the middle class but raising tax rates on incomes over 250,000 dollars a year. president also wants to extend unemployment benefits for some 2 million americans who will lose them in the new year. and a proposal would delay any spending cuts. the president asked for an up or down vote on his plan unless there is a counter proposal that will pass both the house and senate. a little more than an hour after the meeting began several participants were seen leaving. >> and back at the capital the senate's democratic majority leader harry reid and republican minority leader mitch mcconnell offered their takes on the meeting. >> we had a good meeting down at the white house. we are engaged in discussions, the majority leader myself and the white house, in the hopes that we can come forward as early as sunday and have a recommendation that i can make to my conference and the majority leader can make to his conference. and so we'll be working hard to try to see if we can get there in the next 24 hours. and so i'm hopeful and optimistic. >> whateve
it included keeping the bush era tax break force the middle class but raising tax rates on incomes over 250,000 dollars a year. president also wants to extend unemployment benefits for some 2 million americans who will lose them in the new year. and a proposal would delay any spending cuts. the president asked for an up or down vote on his plan unless there is a counter proposal that will pass both the house and senate. a little more than an hour after the meeting began several participants...
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114
Dec 28, 2012
12/12
by
WETA
tv
eye 114
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it has been reported that president obama presented a plan to increase taxes on income over a quarter million dollars per year, as part of the deficit reduction plan to deal with american debt. he would probably say to the congressional leaders that need to figure out a way to get it through, but i think the expectations in washington of a deal are low with only three, four days left until the new year and the media tax hikes and spending cuts taking and -- kicking in. >> that means perhaps heading back into recession? >> yes, there is little doubt in washington about the seriousness of the sick jubilation. the problem is withdrawing government demand from the economy too big spending programs, cuts with a smothering effect on the tax hikes will have been very damaging effect on the was economy and by extension the world economy. people know it is serious, but the politics, we know that the house and senate republicans do not want to increase taxes on anybody, so it is very difficult to see how a package can get through congress, certainly in time for the new year. one guess is that t
it has been reported that president obama presented a plan to increase taxes on income over a quarter million dollars per year, as part of the deficit reduction plan to deal with american debt. he would probably say to the congressional leaders that need to figure out a way to get it through, but i think the expectations in washington of a deal are low with only three, four days left until the new year and the media tax hikes and spending cuts taking and -- kicking in. >> that means...
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163
Dec 27, 2012
12/12
by
MSNBCW
tv
eye 163
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the alternative minimum tax which all of us, again, agree should not apply to 26 million americans. we agree on that. let's vote on that. let's create that certainty and move forward. let's create a path to move forward to deal with comprehensive tax policy in a fair and responsible way and let's deal with the deficit and the balance in a fair away. john boehner basically said no to all of that. and that's really not acceptable leadership. >> is there any -- should harry reid amend the bill that the house sent over at all? the fact is, harry reid has -- needs to add republican cooperation. he wants to say, look, this isn't a game. this isn't show. you know, i can bring out a bill, pass a bill. if john boehner says i'm not going to look at that, what's the point? let's make something happen here. that is what the american people are looking for. we're concerned about the fiscal and economic policies. there's a recovery period that we're experiencing to put more challenges before the economy both consumers and investors. let's create certainty. let's make sure that we pass tax cuts fo
the alternative minimum tax which all of us, again, agree should not apply to 26 million americans. we agree on that. let's vote on that. let's create that certainty and move forward. let's create a path to move forward to deal with comprehensive tax policy in a fair and responsible way and let's deal with the deficit and the balance in a fair away. john boehner basically said no to all of that. and that's really not acceptable leadership. >> is there any -- should harry reid amend the...
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205
Dec 31, 2012
12/12
by
WUSA
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eye 205
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have pushed back on any increase in taxes. >> they say that the biggest priority is making sure that we deal with the deficit in a serious way, but the way they're behaving is that their only priority is making sure that tax breaks for the wealthiest americans are protected. >> but senators say there is some movement on the issue. >> there's a lot of give and take right now but republicans doan want to see new revenues in other words, tax increases be used for spending. >> the president says if there's no deal by the end of the day, they should draw up a new tax plan. >> there should be a right to vote. if republicans don't like it they can vote no but i actually think there's a majority support for making sure the middle-class families are held harmless. >> a white house proposal to increase estate taxes also held up negotiations over the weekend. now, even if the democratic-led passes, it still has to get through the republican-controlled house. terrell? >> not looking so well. danielle nottingham in washington. thank you so much. >>> lawmakers hav agreed though, on a dramatic spik
have pushed back on any increase in taxes. >> they say that the biggest priority is making sure that we deal with the deficit in a serious way, but the way they're behaving is that their only priority is making sure that tax breaks for the wealthiest americans are protected. >> but senators say there is some movement on the issue. >> there's a lot of give and take right now but republicans doan want to see new revenues in other words, tax increases be used for spending....
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429
Dec 29, 2012
12/12
by
KQED
tv
eye 429
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it has been reported that president obama presented a plan to increase taxes on income over a quarter million dollars per year, as part of the deficit reduction plan to deal with american debt. he would probably say to the congressional leaders that need to figure out a way to get it through, but i think the expectations in washington of a deal are low with only three, four days left until the new year and the media tax hikes and spending cuts taking and -- kicking in. >> that means perhaps heading back into recession? >> yes, there is little doubt in washington about the seriousness of the sick jubilation. the problem is withdrawing government demand from the economy too big spending programs, cuts with a smothering effect on the tax hikes will have been very damaging effect on the was economy and by extension the world economy. people know it is serious, but the politics, we know that the house and senate republicans do not want to increase taxes on anybody, so it is very difficult to see how a package can get through congress, certainly in time for the new year. one guess is that t
it has been reported that president obama presented a plan to increase taxes on income over a quarter million dollars per year, as part of the deficit reduction plan to deal with american debt. he would probably say to the congressional leaders that need to figure out a way to get it through, but i think the expectations in washington of a deal are low with only three, four days left until the new year and the media tax hikes and spending cuts taking and -- kicking in. >> that means...
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Dec 24, 2012
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the expiration of the tax cuts with a $2200 average tax high. the payroll tax cut would also expire meaning another $40 a paycheck and long-term unemployment benefits would end for 2 million americans. while these elements could have a recession-inducing effect, they could undo those measures shortly after the first of the year. estimations are if we do go over the cliff it would be the third quarter which the recession may hit. when be look at the issue of a -- the markets, however, may feel the brunt of the fiscal cliff fallout. the dow fell on friday after the deal failed the night before. last week fitch warned it may downgrade the u.s. credit rating if congress cannot reach a deal. some lawmakers are angling for the best political outcountry. >> when i listen to the president, i think he's eager to go over the cliff for political purposes. he gets all this additional tax revenue for new programs, gets to cut the military which democrats have been calling for for years, and he gets to blame republicans for it. implts joining me are off and o
the expiration of the tax cuts with a $2200 average tax high. the payroll tax cut would also expire meaning another $40 a paycheck and long-term unemployment benefits would end for 2 million americans. while these elements could have a recession-inducing effect, they could undo those measures shortly after the first of the year. estimations are if we do go over the cliff it would be the third quarter which the recession may hit. when be look at the issue of a -- the markets, however, may feel...
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Dec 31, 2012
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have pushed back against any tax increases. president obama is placing the blame for the impasse on the gop. >> they say that their biggest priority is making sure that we deal with the deficit in a serious way, but the way they're behaving is that their only priority is making sure that tax breaks for the wealthiest americans are protected. >> reporter: but senators say there is some movement on the issue. >> there's a lot of give and take going on right now, but republicans doan want to see new revenues, in other words, democrat tax increases, beused for new spending. >> the president has said if there is no deal by the end of the day, the senate should draw up legislation to extend the bush-era tax cuts for the middle class. >> there should be an up or down vote. everybody should have a right to vote on that. you know, if republicans don't like it, they can vote no, but i actually think there's a majority support for making sure that middle-class families are held harmless. >> a white house proposal to increase estate taxes
have pushed back against any tax increases. president obama is placing the blame for the impasse on the gop. >> they say that their biggest priority is making sure that we deal with the deficit in a serious way, but the way they're behaving is that their only priority is making sure that tax breaks for the wealthiest americans are protected. >> reporter: but senators say there is some movement on the issue. >> there's a lot of give and take going on right now, but republicans...
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Dec 27, 2012
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tax patch purpose and those are xhenkful. i'll still hike to see more spending cuts. >> what does the president need to do to get you to virtually come to the people and vote yes. the helicopter has to get off the platform since the election, solving or debt and deficit problem knows that you can't cole of our debt problem before it is not faeblible. >> the president arrived at 3310:00 am and made calls to the house and senate leadership as the negotiations continued. do you sense, sir, there is a period of compromise, where nobody was talking and everybody was holding the ground firmly? do you have a greater sense of comp moise as we into -- the speaker said the president didn't next any dale or the compromise so i ge he'll take that up in the shat, hopefully vote for it. >> part part of the problem last week was the conservative wing of the party that i put you in for plan "b," and it was seening a something of a mutiny against john boehner at that point. so i'ming what is do you feel the support think of wing of the part i
tax patch purpose and those are xhenkful. i'll still hike to see more spending cuts. >> what does the president need to do to get you to virtually come to the people and vote yes. the helicopter has to get off the platform since the election, solving or debt and deficit problem knows that you can't cole of our debt problem before it is not faeblible. >> the president arrived at 3310:00 am and made calls to the house and senate leadership as the negotiations continued. do you sense,...
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Dec 27, 2012
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hour, dividend taxes are not taxed at 15% but are double taxed. companies have to pay taxes on their profits before distributing them as dividends. dividends are double taxed and will almost be triple taxed unless we do something in washington. all those million of dividend investors should be really angry. bad for them but it's bad for the economy. >> realistically though could we really expect it to go to 39.6, there's got to be some compromise in there somewhere. i wouldn't think the republicans would let it go much higher. >> you look at it. i don't think washington guess what this does. look at the effective rate. right now if i pay $1 as a public or private company and pay $1 a earnings as interest, it's taxed 18% higher effectively. >> right. >> so what does that do? that creates something called a debt bias. debt bias is bad for our economy. right now we have three things, too many debt in our economy, not enough job creation and need more income for retirees. tacking dividends is going to make all of those situations worse. >> to pare thi
hour, dividend taxes are not taxed at 15% but are double taxed. companies have to pay taxes on their profits before distributing them as dividends. dividends are double taxed and will almost be triple taxed unless we do something in washington. all those million of dividend investors should be really angry. bad for them but it's bad for the economy. >> realistically though could we really expect it to go to 39.6, there's got to be some compromise in there somewhere. i wouldn't think the...
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Dec 26, 2012
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would then be voting for tax cuts as opposed to tax increases they would now have to reach a deal. put the president and the democrat particular party would win. >> he gets to cut the military and he gets to blame republicans for it. >> also if congress does not reach a deal by monday as many as 500 million taxpayers will not be able to file until march and i can explain why when i see you next. tile la campbell -- kyle la calm about a ktvu channel 2 morning news. >>> they are asking all workers from d.c. washington area stores to coliseum together and he said he wants to send a respectful but potent issue. we have more times with the same message. >>> the u.s. base was the target of a suicide attack in afghanistan. a car bomb went off at the gates of camp chapman. the blast skilled a delivery guard and 6 children. the taliban is claiming responsibility. >>> more than 10 people people voted to support it but more than two-thirds voted not to have it but some say it passed too quickly. it protects some rights but underminds others. >>> now that voters have approved higher taxes for
would then be voting for tax cuts as opposed to tax increases they would now have to reach a deal. put the president and the democrat particular party would win. >> he gets to cut the military and he gets to blame republicans for it. >> also if congress does not reach a deal by monday as many as 500 million taxpayers will not be able to file until march and i can explain why when i see you next. tile la campbell -- kyle la calm about a ktvu channel 2 morning news. >>> they...
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Dec 30, 2012
12/12
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and allowing taxes to increase on the wealthiest americans. this remains a major sticking point for many republicans. some say a small deal is better than no deal at all but represents a lack of leadership. >> they haven't taken any of the hard measures to bring spending down and reform entitlements and raise more revenues. >> reporter: now, late saturday, negotiators continued to haggle over a number of issues, particularly the issue of taxes. republican leader, mitch mcconnell, was spotted at the capital. when asked if they would reach a deal, he told reporters, quote, i hope so. erica? >> many americans hoping so too. >>> david gregory is moderator of "meet the press." good morning. >> good morning, erica. >> you sat down with an exclusive interview with the president. did he seem optimistic to you? >> he says he is optimistic but really preparing to play hardball. his own approach, plan "b," is a small deal to get an extension of the middle class tax cuts and do very little else. the fight over the debt continues into the new year just wee
and allowing taxes to increase on the wealthiest americans. this remains a major sticking point for many republicans. some say a small deal is better than no deal at all but represents a lack of leadership. >> they haven't taken any of the hard measures to bring spending down and reform entitlements and raise more revenues. >> reporter: now, late saturday, negotiators continued to haggle over a number of issues, particularly the issue of taxes. republican leader, mitch mcconnell,...
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Jan 1, 2013
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tax. we'll try to get into those details later in the morning. as we've been saying, this really isn't over yet. even for the house votes to approve this deal today, it is really just sort of pushing off to another day, perhaps two months down the road, that bigger fight. again, they do have to decide what to do with the planned $24 billion in spending cuts and that will come right about the time that congress has to deal with yet another bruising debt ceiling battle. >> all right. thank you. >>> why do you think lawmaker waited until last minute? there is a lot of questions surrounding that. we are getting a lot of feedback on our facebook page. >> william have bad hotwood says it was to, quote, act like they are doing something for their already overrated salaries. they do this almost every year. we need to force them to change the way they work us for. share your commends our facebook page. >>> still ahead this new year's morning. >> so, a deal has been reached mentioned in the senate.
tax. we'll try to get into those details later in the morning. as we've been saying, this really isn't over yet. even for the house votes to approve this deal today, it is really just sort of pushing off to another day, perhaps two months down the road, that bigger fight. again, they do have to decide what to do with the planned $24 billion in spending cuts and that will come right about the time that congress has to deal with yet another bruising debt ceiling battle. >> all right. thank...
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Jan 1, 2013
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and compromise on the estate tax. a republican win on the estate tax. is that food enough for you to accept, even though you don't want to raise taxes? >> although, two points, the estate tax is better than going back to a million dollar exclusi exclusion, 55%, tax rate or anything above that there shouldn't be any tacks on death. it shouldn't be a taxable event. regarding theation on people making above $400,000. go back to 1993, the clinton era tax rates which the democrats want. $250,000 then taxed at 39 mt 6% is the equivalent of $398,000 tow with according to a labor statistic bureau and regular inflation. it's not that great of a deal i don't think as it goes and it's taxing and still taxing small business men and women, and i don't like that at all. >> representative gingrich, ali velshi, happy new year to you, sir. i want to talk to something that played out yesterday. you were a tough primary in the past and that was when you first signed the norquist pledge. am i right? >> that's right. absolutely. >> and grover norquist seems to have approved
and compromise on the estate tax. a republican win on the estate tax. is that food enough for you to accept, even though you don't want to raise taxes? >> although, two points, the estate tax is better than going back to a million dollar exclusi exclusion, 55%, tax rate or anything above that there shouldn't be any tacks on death. it shouldn't be a taxable event. regarding theation on people making above $400,000. go back to 1993, the clinton era tax rates which the democrats want....
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Dec 26, 2012
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are $500 billion worth of tax hikes expected on january 1st. republicans are saying that spending cuts. they want to see more of that. and democrats do not want to go off of their focus on where they are right now, to get to that point. that's really a big divide that both the white house and capitol hill is facing right now. >> let's look at everyone left for christmas break. this seemed like it was going nowhere. is there any hope over the next few days that a deal is going to be reached? or are we just going straight off the cliff? >> reporter: well, the president says he hopes that members of congress will bring some eggnog and sing some christmas carols and come back. but it looks like it will take more than just some christmas cheer to get them to move off of their positions. the president, before he left, said he remains optimistic that some sort of a deal can be struck. but the reality is, they only have a matter of days. december 31st is when all of this has to be agreed by. and so, the clock is ticking, guys. >> all right. reena ninan
are $500 billion worth of tax hikes expected on january 1st. republicans are saying that spending cuts. they want to see more of that. and democrats do not want to go off of their focus on where they are right now, to get to that point. that's really a big divide that both the white house and capitol hill is facing right now. >> let's look at everyone left for christmas break. this seemed like it was going nowhere. is there any hope over the next few days that a deal is going to be...
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to expire while middle income earners would see tax relief. the sticking point is over where the income line should be separating those who should continue to see the tax cuts from those who would see them go away. it's about slowing spending and deficit reduction. >> make no mistake. there will be real damage. we'll be squeezing people who deserve better. we'll scramble to find budget reductions in a way that sense. sometime in hours, days, weeks ahead. we will get a semi-balanced small agreement. mr. speaker, we don't have a trillion dollar debt because we haven't taxed enough. we have a trillion dollar debt because we spend too much. that was ronald reagan in 198 # 2. president reagan led america out of recession. history has a way of repeating itself. somehow washington never gets the message. >> president obama said he would push for a bill that would actually -- what it would do is include a renewal of the unemployment extension of the bush tax cuts for middle class americans who make less than $250,000 a year. some of us will be watchin
to expire while middle income earners would see tax relief. the sticking point is over where the income line should be separating those who should continue to see the tax cuts from those who would see them go away. it's about slowing spending and deficit reduction. >> make no mistake. there will be real damage. we'll be squeezing people who deserve better. we'll scramble to find budget reductions in a way that sense. sometime in hours, days, weeks ahead. we will get a semi-balanced small...
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Dec 25, 2012
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. >> reporter: that would raise taxes on people making more than $200,000 a year. each making a parting pitch. >> i've asked leaders of congress to work toward a package that prevents a tax hike on middle class americans, prevents unemployment insurance for 2 million americans and lays the ground work for further work on both growth and deficit reduction. >> the presidents solution of raising tax rates would still be ready for as far as the eye can see and it would hurt jobs. >> the partisan bickering has put the country on the brink of a financial crisis. >> it's the first time that i feel it's more likely that we will go over the cliff than not. and that if we allow that to happen it will be the most collosal consequential in a very long time. >> reporter: president obama is in hawaii for christmas. he says he will cut his vacation short to try to hammer out a deal with republicans. i'm andrew spencer reports. >>> fears over if fiscal cliff dampened hopes on the stock market. >>> on the heels of a public outcry, instagram has been hit with with their first civil
. >> reporter: that would raise taxes on people making more than $200,000 a year. each making a parting pitch. >> i've asked leaders of congress to work toward a package that prevents a tax hike on middle class americans, prevents unemployment insurance for 2 million americans and lays the ground work for further work on both growth and deficit reduction. >> the presidents solution of raising tax rates would still be ready for as far as the eye can see and it would hurt jobs....
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Dec 27, 2012
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so you need policy consensus, some tax reduction, some investment and education, and some tax breaks that will help sort of states specialize in different industries and attract them. >> let's end where we started. some criticisms coming out from ips saying the president has left some things on the table here. the estate taxes one of those that they bring to bear here. they also talk about hedge fund managers specifically being ability to get favorable tax rates there, too. how has the administration done with this? >> it's sort of paralysis on this issue. you know, the administration -- the republicans -- what we seed with a fiscal cliff and what we saw in our series is the ability to create consense politically is hurting us tremendously, economically. the earlier guest was talking about how these are self-inflected problems, and that's what's happening. tax rates will go up across the board. the condition does look like it will slip back, and it's a global change in the economy. again people with skills competing globally and doing very very well at the top. we're not addressing f
so you need policy consensus, some tax reduction, some investment and education, and some tax breaks that will help sort of states specialize in different industries and attract them. >> let's end where we started. some criticisms coming out from ips saying the president has left some things on the table here. the estate taxes one of those that they bring to bear here. they also talk about hedge fund managers specifically being ability to get favorable tax rates there, too. how has the...
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Dec 29, 2012
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>> i think raising the capital gains tax, raising the dividend tax, raising the estate tax, raising taxes on small businesses, is a disaster for the economy, it's too fragile. >> that's not true at all. all the research shows that actually the economic activity is not that sensitive to tax rates at the top of the income distribution -- >> that's not true, it's the opposite. >> i'm sorry -- >>> the economy's highly sensitive, that's why countries around the world have been cutting their tax rates. >> we grew faster when we had higher tax rates. >> let's just do it another reality check on this. which is that, whether we go over the cliff or have a scaled-down deal, we've got two things looming, a debt ceiling in probably two months which republicans will no doubt use as leverage. we still don't have a grand bargain that deals with deficit and debt by taking on tax reform and entitlement reform. what rational reason, stephen, first you, should we have that that other kick the can to another situation we're about to go off a cliff would produce any different result from a new congress? >> i'
>> i think raising the capital gains tax, raising the dividend tax, raising the estate tax, raising taxes on small businesses, is a disaster for the economy, it's too fragile. >> that's not true at all. all the research shows that actually the economic activity is not that sensitive to tax rates at the top of the income distribution -- >> that's not true, it's the opposite. >> i'm sorry -- >>> the economy's highly sensitive, that's why countries around the world...
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Dec 25, 2012
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there is only a week left to avoid tax hikes and spending cuts that will impact almost every american. tonight it appears democrat senate leader harry reid may take the lead in crafting a comp mice to prevent tax hikes on at least the middle class. the president was in hawaii for the funeral of senator daniel minoli. >>> one of the president's last acts before leaving washington caught some holiday travelers offguard today. grace lee on how an unexpected federal holiday scuttled some christmas vacations. >> i'm really upset. at this point, i don't know what can we do now? just wait. we've been here since 7:30 in the morning. my appointment was at 9. >> reporter: stranded an christmas eve. it was the same story for dozens who were supposed to pick up pass ports today. some had confirmation numbers. >> extremely frustrating and disappointing that i'm not going to be able to see them, not for my wife's birthday or my daughter for christmas. >> reporter: the passport agency was supposed to be open today, but in a last-minute decision on friday, the president declared christmas eve a feder
there is only a week left to avoid tax hikes and spending cuts that will impact almost every american. tonight it appears democrat senate leader harry reid may take the lead in crafting a comp mice to prevent tax hikes on at least the middle class. the president was in hawaii for the funeral of senator daniel minoli. >>> one of the president's last acts before leaving washington caught some holiday travelers offguard today. grace lee on how an unexpected federal holiday scuttled some...
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Jan 1, 2013
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. >> sales tax right here tomorrow, 9.5%. >> sales tax right here tomorrow, 9%. >> reporter: the tax from prop 30 will last the next four years. in el cerrito, mike sugerman, cbs 5. >>> coming up in the next half hour a live report from washington, d.c. the latest on the "fiscal cliff" fiasco. and we'll look more closely at one part of the budget debate that's drawn a lot of attention, the possibility of skyrocketing milk prices. >> and a new report on the benghazi disaster levels more harsh criticism of the state department. >> the california supreme court hands down one last ruling on bumper cars in 2012 next. >> and one more fireworks extravaganza before the break and this might qualify as the biggest of the year. earlier we showed you taipei 101. here's the world's tallest building, the burj khalifa that serves as the centerpiece for the fireworks in dubai. oh, my gosh, that's amazing. we're back in 2.5 minutes. ,,,,,, ...so as you can see, geico's customer satisfaction is at 97%. mmmm tasty. and cut! very good. people are always asking me how we make these geico adverts. so we'r
. >> sales tax right here tomorrow, 9.5%. >> sales tax right here tomorrow, 9%. >> reporter: the tax from prop 30 will last the next four years. in el cerrito, mike sugerman, cbs 5. >>> coming up in the next half hour a live report from washington, d.c. the latest on the "fiscal cliff" fiasco. and we'll look more closely at one part of the budget debate that's drawn a lot of attention, the possibility of skyrocketing milk prices. >> and a new report on...
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Dec 28, 2012
12/12
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they pay sales taxes and% income-tax. [talking over each other] >> they pay less than nothing because we get earned income tax credit. dennis: all right, sounds good to me. [talking over each other] dennis: we will cut you down. shibani: the fiscal cliff survival kit is here. the market's jump in and fiscal cliff years. what should you do to protect your money, your portfolio, your sanity, your 401(k)? joining us is president and ceo of shaver asset management dan shaffer. good to have you on this friday, big day for the market. all these talks, i noticed movement in bond prices. in the currency market, what is your technical analysis telling you about these? >> the setup seems to be there is winding of speculation. i follow the commitment of traders report every friday afternoon by the cftc and the government and tell you who is on what side of the market so we're looking at speculator is being more of the bullish crowd where commercials or hedgers and these are the traders that are not neutral. they are not speculating.
they pay sales taxes and% income-tax. [talking over each other] >> they pay less than nothing because we get earned income tax credit. dennis: all right, sounds good to me. [talking over each other] dennis: we will cut you down. shibani: the fiscal cliff survival kit is here. the market's jump in and fiscal cliff years. what should you do to protect your money, your portfolio, your sanity, your 401(k)? joining us is president and ceo of shaver asset management dan shaffer. good to have...
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Dec 25, 2012
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. >> reporter: that would raise taxes on people making more than $200,000 a year. each making a parting pitch. >> i've asked leaders of congress to work toward a package that prevents a tax hike on middle class americans, prevents unemployment insurance for 2 million americans and lays the ground work for further work on both growth and deficit reduction. >> the presidents solution of raising tax rates would still be ready for as far as the eye can see and it would hurt jobs. >> the partisan bickering has put the country on the brink of a financial crisis. >> it's the first time that i feel it's more likely that we will go over the cliff than not. and that if we allow that to happen it will be the most collosal consequential in a very long time. >> reporter: president obama is in hawaii for christmas. he says he will cut his vacation short to try to hammer out a deal with republicans. i'm andrew spencer reports. >>> fears over if fiscal cliff dampened hopes on the stock market. >>> on the heels of a public outcry, instagram has been hit with with their first civil
. >> reporter: that would raise taxes on people making more than $200,000 a year. each making a parting pitch. >> i've asked leaders of congress to work toward a package that prevents a tax hike on middle class americans, prevents unemployment insurance for 2 million americans and lays the ground work for further work on both growth and deficit reduction. >> the presidents solution of raising tax rates would still be ready for as far as the eye can see and it would hurt jobs....